Examlex
Which of the following can be used to support and increase ethical behaviour in an organisation?
Collateral
An asset that a borrower offers a lender to secure a loan. If the borrower fails to repay the loan, the lender may seize the collateral.
Oral Agreement
A verbal contract in which the terms have been agreed upon through spoken communication, as opposed to written, but is still legally binding in some cases.
Perfection
In legal finance, the process of securing an interest in collateral, ensuring a lender's rights are prioritized over others in the event of borrower default.
Attachment
The legal process of seizing a defendant's property to ensure satisfaction of a judgment.
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